" #UBI, an economic proposition in which a sum of money is regularly paid to a population, could be a vital bulwark against the unintended consequences of #automation in the workforce."
"Companies will profit significantly from workforce #automation, so the private sector will be able to afford shouldering this burden, while at the same time still making greater #profits."
"After all, a full-time human has needs: 30 minutes for lunch each day, vacation and sick time, toilet breaks, and health benefits, to name a few. Meanwhile, an #automated worker would only require an initial installation and the occasional repair or upgrade."
"The BCG report stated that a human welder today is paid around $25 an hour (including benefits) versus the equivalent operating cost of around $8 for a robot."
“In 15 years, that gap will widen even more dramatically,” the report states. “The operating cost per hour for a robot doing similar welding tasks could plunge to as little as $2 when performance improvements are factored in.”
"This trend will only continue to accelerate. McDonald’s, an early pioneer of #automation, is already replacing human workers with automated kiosks. They expect a 5% to 9% return on investment in just the first year; in 2019 they expect this return to balloon to double digits."
"And this is only one sector: PricewaterhouseCoopers estimates that 38% of US jobs will be in danger of being replaced by automation by 2030."

McKinsey (in 2020) puts this number at close to 50% by 2030.
"Companies that automate their workforces should be taxed on these #new #massive #profits, and some of the resulting capital given back to workers by the government in the form of #UBI."
"While the idea of a UBI is popular—Mark #Zuckerberg, Elon #Musk, and Bill #Gates have all championed it—how exactly would a universal basic income be engineered?


#Crushing the disposable working class.
"Large swaths of laborers are going to lose their jobs, leading to unprecedented levels of unemployment."

That moment has arrived.

April 7, 2020: "Spain to become first European country to introduce Universal Basic Income" https://morningstaronline.co.uk/article/w/spain-become-first-european-country-introduce-universal-basic-income
"... w/ some economists suggesting that automation could potentially replace over half of all jobs by 2055."

"the disruption to workers' lives will be significant"

Creating a Shared Future in a Fractured World
Global Agenda, #Davos, Jan 2018
World Economic Forum

June 20 2019: "UBI would strengthen & even create financial markets, particularly for consumer credit, mortgages, & #pensions. Far from [] a revolutionary route to freedom from the whip of the market, #UBI may end up yoking all citizens to rentier capital through #indebtedness."
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